Cryptocurrency

The company known for its $16,000 smartphone raises $110M in ICOs

Avatar Written by Sajeel Syed · 51 sec read>

Have you ever heard of any smartphone that has a cost over $5,000? Brace yourself, here we have one that will astonish you. SIRIN Labs had announced the world’s most secure blockchain smartphone known as Solarin, with a price of $16,000 back in 2016. As for now, the company has raised $110 million in the first 24 hours of its recent SRN token sales.

The major reason behind the success of the SIRIN Lab’s campaign is due to the overall drop all market of the Initial Coin Offerings (ICOs). The period of decline for the ICOs seems to be a long one. Another factor behind this response to the company in a single day is the company’s already established marketplace. However, the company’s smartphone Solarin is one of the most expensive blockchain smartphones for an average consumer.

The SRN token is specifically designed to support blockchain applications such as cold storage crypto wallet or encrypted communications.

Furthermore, the SIRIN is also working on its own blockchain based app called FINNEY. Meanwhile, the company is also working on its new blockchain based PC which will be certainly more secure and affordable than its smartphone.

When we compare the past six months, the SIRIN’s ICO numbers have been very productive. ICOs market which was on fire at the beginning of the year seems to be cooling down in recent months. The permanent ban on ICOs from China and Korea has influenced this system very badly.

Written by Sajeel Syed
I am a writer at TechJuice, overseeing IT, Telecom, Cryptocurrency, and other tech-related features here. When I'm not working, I spend some of my time with good old Xbox 360 and the rest in social activism.Follow me on Twitter: https://twitter.com/sajeelshamsi Profile